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Category: Economy

  • Should You Buy Tata Nexon EV? Check Top 5 Pros & 2 Cons | Auto News

    Tata Nexon EV Pros & 2 Cons: India’s best-selling electric SUV by far, the Tata Nexon EV, has democratized EVs in the country. But should you buy one? Check out the top 5 pros and 2 cons of the Tata Nexon EV.”

    Tata Nexon EV Top-5 Pros

    Exterior Design: It’s a good-looking electric car. Tata Motors gave it a complete revamp of the exterior design with a facelift launch. The EV draws design inspiration from the Curvv concept, a forthcoming Tata SUV.

    The front is completely new and looks energetic, featuring an LED split-headlamp setup with DRLs on top and the main headlamp cluster lower down along with the sharper bumper carrying air curtain on the edges.


    At the back, an LED light bar merges into the new tail-lamps on either side, giving the fresh and new look to the revised tailgate, while the side profile is near-identical to the pre-facelift model, except the new set of alloys.

    Interior Design: Entering into the cabin of Nexon EV, your attention is immediately drawn to the two massive screens (instrument cluster & infotainment) and cool-looking steering. Both screens are high-resolution, offering a good touch response.

    The interior impresses with its quality, with textures, patterns, and colors. It sports a twin-spoke steering that features an illuminated logo in the centre. The gloss black elements used in the cabin look nice.


    Feature Loaded: It gets a 10.25-inch highly customizable digital instrument cluster letting you choose different layouts and a 12.3-inch touchscreen infotainment with wireless Android Auto and Apple CarPlay.

    Tata has equipped the Nexon EV with 9-speaker JBL sound system, cruise control, automatic AC, ventilated front seats, wireless phone charging, a sunroof, and what not. It also comes with V2V and V2L functionalities.

    It gets 6 airbags, ESC, hill hold and descent control, all-wheel disc brakes, auto-dimming IRVM, and a 360-degree camera while some of the features are reserved for higher variants only.

    Driving Range: It is offered with two battery pack options: 30 kWh and 40.5 kWh, delivering a claimed range of up to 325 km and 465 km, respectively. In the real world, the smaller battery pack can offer a range of approximately 270km, while the larger one can offer approximately 380km.

    Ride & Handling: It rides and handles in a more polished way while the ride is on the firmer side at slower speeds, making it feel tough and composed on rough terrains. The high-speed stability is good and the ride smoothens out as you go faster. Its a fun to drive electric car, and grips well around the corners.


    Tata Nexon EV Top-5 Cons

    Fit & Finish: Defiantly, the Tata motor has gone far improving the fit & finish of the Nexon EV but there are still some areas where it could have been improved particularly in the centre console around the middle armrest.

    DC Fast Charging Is Slow: The Tata Nexon EV Long Range model includes a 7.2kW AC charger and supports DC fast charging up to 30kW, which is relatively slow by today’s EV standards.

  • NSE To Launch One Paisa Ticket Size For Stocks Below Rs 250 From THIS Date | Markets News

    New Delhi: The National Stock Exchange is set to launch a new one paisa ticket for stocks below the trading price of Rs 250 per share, according to the NSE circular. As per the circular, the measure will be implemented from June 10. 

    At present the share has a ticket size of at least 5 paise. Investors will get the direct benefit of reduced ticket size. Ticket size is the difference between the price of a seller and the price of a buyer. In such a situation, reducing the ticket size will enable better price discovery and the buyers and sellers will get the right price.

    For example, if a person wants to sell shares at Rs 199.98, the deal will be done not at Rs 199.98 but at Rs 199.95 or Rs 200. Due to the reduction in ticket size, the deal will be done at Rs 199.98. According to the circular, the ticket size is being reduced from 5 paise to one paise. This will apply to the T+1 settlement as well as the T+0 settlement.

    NSE said in the circular that the ticket sizes will be reviewed and adjusted every month based on the closing price of the last trading day of the month. NSE further said in the circular that the stock futures will have the same ticket size from July 8. Reviews and revisions in the ticket price will apply to all expiries. 

  • Tata Altroz Racer Teased Ahead of Launch; What Do We Know So Far | Auto News


    The Tata Altroz Racer, set to launch in June 2024, has been teased for the first time. Notably, it made its debut in 2023 Auto Expo and subsequent showcase at the Bharat Mobility Global Expo earlier this year.
    The teaser reveals only a partial view of the Tata Altroz Racer, highlighting its new orange-black color scheme and extended rear spoiler for a sportier look. The alloy wheels, though retaining their design, now sport a black finish. Enhanced styling elements will distinguish the Altroz Racer from the regular Altroz, including a revised grille and dual-tip exhaust. Spy shots also suggest the presence of dual white stripes running from the hood to the roof’s end.

    Features

    The Altroz Racer will boast several additional features over the standard Altroz. Notable updates include a larger 10.25-inch touchscreen with wireless Android Auto and Apple CarPlay, a new 7-inch fully digital driver’s display, ventilated front seats, a heads-up display, and wireless phone charging. Safety will also see an upgrade with the inclusion of six airbags and a 360-degree camera.

    Expected Engine

    Under the hood, the Altroz Racer is expected to house a turbo-petrol engine borrowed from the Tata Nexon. This 1.2-litre turbo-petrol engine will deliver 120 PS of power and 170 Nm of torque. The transmission options are expected to include a 6-speed manual and a 7-speed dual-clutch automatic.
    This engine is more powerful than the current Altroz i-Turbo variant, which uses a 1.2-litre turbo-petrol engine (110 PS / 140 Nm) paired with a 5-speed manual transmission. The Altroz Racer will feature a new 6-speed manual transmission, with a 7-speed dual-clutch automatic transmission also anticipated.

     Expected Price and Rivals

    The Tata Altroz Racer is expected to be priced starting at Rs 10 lakh (ex-showroom). Positioned as a direct competitor to the Hyundai i20 N Line, the Altroz Racer aims to attract enthusiasts looking for a sportier hatchback experience.

  • Expert Claims To Locate Aircraft In Jungle Using Google Maps

    Malaysia Airlines MH370 Google Maps: A Malaysia Airlines flight, MH370, which mysteriously disappeared from radar screens on March 8, 2014, while flying over the South China Sea, has once again become a topic of discussion. An expert has made a bizarre claim, stating that he ‘found’ the MH370 plane deep inside the Cambodian jungle using Google Maps.

    The disappearance of MH370 was one of Malaysia’s deadliest aviation incidents. The aircraft was heading from Kuala Lumpur to Beijing with 227 passengers and 12 crew members on board, all were presumed dead. On Saturday (May 25), British tabloids again published the report based on the comments of UK-based expert Ian Wilson, which he apparently made in 2018. 

    Daily Mirror, Daily Star, and Daily Record again published his comments, claiming that he found remains of the missing Malaysia Airlines flight MH370 while scanning satellite imagery on Google Maps, which became one of the top searches on Google. 

    According the reports, Wilson said- “I was on there (Google Earth), a few hours here, a few hours there. If you added it up I spent hours searching for places a plane could have gone down. And in the end, as you can see the place where the plane is. It is literally the greenest, darkest part you can see.”

    However, Wilson’s claims are not supported by any official statement. The authorities did not find any trace of MH370 yet and no one knows what exactly happened to the plane. After a decade of incident, the disappearance of MH370 from radar is still a mystery.

    In March, 2024, a Texas-based company, Ocean Infinity, proposed a new search with “no-cure, no-fee” approach to find the plane, in the southern Indian Ocean where it is believed to have crashed.

  • BharatPe, PhonePe Settle Trademark Dispute On Using ‘Pe’ Suffix | Companies News

    Bengaluru: The BharatPe Group and PhonePe Group on Sunday announced that they have amicably settled all long-standing legal disputes pertaining to the use of the trademark with the suffix “Pe”. This comes after a long-drawn legal dispute across multiple courts, over the last 5 years.

    “The settlement will put an end to all open judicial proceedings,” the announcement said, adding that the companies have withdrawn all oppositions against each other in the trademark registry. Rajnish Kumar, Chairman of the Board, BharatPe called the move “a positive development for the industry”, while appreciating “the maturity and professionalism shown by the Management of both sides”.

    He added that this will help the companies to move “ahead to focus their energy and resources in building robust digital payment ecosystems”. (Also Read: IOC, GAIL, ONGC Fined for Fourth Straight Quarter For Failure To Appoint Directors)

    Both organisations will also undertake to carry out other necessary steps to comply with the obligations under the settlement agreement in respect of all cases before the Delhi and Bombay High Courts.

    Sameer Nigam, Founder and CEO, PhonePe, expressed happiness over the “amicable resolution”. (Also Read: Swiss Cheese, Chocolate, And Watches To Get Cheaper For Indian Consumers)

    He noted that the outcome will help both companies “focus collective energy on growing the Indian fintech industry as a whole”.

  • Mahindra XUV 3XO Deliveries Begin Today; Check Details | Auto News

    Mahindra has officially started delivering the newly launched XUV 3XO, which debuted at the end of April 2024. This facelifted version of the XUV300 features significant updates in both its interior and exterior design, as well as new features and enhanced safety. While the powertrain options remain the same, there have been notable improvements. The XUV 3XO quickly garnered attention, securing 50,000 bookings within an hour after Mahindra opened the order books on May 15th.

    Engine Options

    The vehicle is available with three engine options: a 1.2-litre MPFi Turbo-Petrol engine producing 110 PS of power and 200 Nm of torque, paired with either a 6-speed manual (6MT) or a 6-speed automatic transmission (6AT); a more powerful 1.2-litre TGDi Turbo-Petrol engine delivering 130 PS and 230 Nm of torque, also available with both 6MT and 6AT options; and a 1.5-litre Diesel engine generating 117 PS and 300 Nm of torque, which can be mated to either a 6-speed manual (6MT) or a 6-speed automated manual transmission (6AMT).

     Transmission Updates

    The petrol engines in the XUV 3XO now come with an automatic torque converter transmission, unlike the previous automated manual transmission (AMT). This upgrade aims to enhance the driving experience and provide smoother gear shifts.

     Design and Features

    The facelifted XUV 3XO sports a refreshed look with significant design changes both inside and out. The exterior design has been updated to give the SUV a more modern and aggressive stance. Inside, the cabin features new materials, updated technology, and improved ergonomics to enhance comfort and convenience for passengers.

     Safety Enhancements

    Mahindra has also focused on improving the safety features of the XUV 3XO. The SUV is equipped with advanced safety technologies to ensure the highest level of protection for its occupants.
    With its powerful engines, enhanced transmission options, and modern design, the Mahindra XUV 3XO stands out as a strong contender in its segment. The overwhelming response during the initial booking phase indicates a positive reception from customers, and the commencement of deliveries marks the beginning of what promises to be a successful run for this updated SUV.

  • GAIL Inaugurates 10 MW Green Hydrogen Plant In Madhya Pradesh | Companies News

    New Delhi: State-run GAIL (India) Ltd. has inaugurated its first 10 MW Green Hydrogen Plant in Vijaipur, Madhya Pradesh as part of the National Green Hydrogen Mission, according to an exchange filing. The plant features a 10-megawatt proton exchange membrane (PEM) electrolyser which has been imported from Canada and is used to produce green hydrogen. 

    The Green Hydrogen plant can produce 4.3 tonnes of hydrogen per day using electrolyzer units that perform electrolysis of water powered by renewable energy. The hydrogen produced at this plant will have a purity of 99.99% and will be generated at a pressure of 30 kg per square centimetre, as per the company. GAIL stated that the plant aligns with the National Hydrogen Mission which aims to achieve 5 million tons of annual green hydrogen production capacity for India by 2030. 

    India is focusing more on hydrogen as an alternative fuel to reduce carbon emissions and meet its growing energy needs. “Initially the hydrogen produced from this unit shall be used as a fuel along with natural gas for captive purpose in the various processes and equipment running in the existing plant at Vijaipur,” GAIL said. (With PTI Inputs) (Also Read: EaseMyTrip Withdraws GoFirst Bid To Focus On Core Growth Areas: CEO)

     “Further, this hydrogen is planned to be dispensed to retail customers in the nearby geographies, transported through high pressure cascades.”Besides sourcing renewable power through open access, GAIL is also setting up around 20 MW Solar power plants at Vijaipur (both ground mounted and floating) to meet the requirement of green power for the 10 MW PEM Electrolyzer. (Also Read: EaseMyTrip Withdraws GoFirst Bid To Focus On Core Growth Areas: CEO)

    While GAIL is blending hydrogen with natural gas on an experimental basis in Indore in its CGD (city gas distribution) network to test its success, it aims to escalate blending ratios with after necessary approvals based on the test results. Current regulations provide for blending only 5 per cent hydrogen with natural gas. GAIL is conducting joint studies with Engineers India Limited and IIT Kanpur to further blend hydrogen with natural gas.

  • 24 Indian Startups Raised $444 Million In Funding This Week | Companies News

    New Delhi: About 24 Indian startups have raised around $444 million in funding during this week, which include five growth-stage deals and 14 early-stage deals. Two early-stage startups did not disclose the amount raised, Entrackr reported on Saturday.

    Last week, about 26 early and growth-stage startups collectively secured around $240 million in funding. Among the growth-stage deals, seven startups secured around $394.21 million in funding this week. E-commerce major Flipkart secured the highest funding of $350 million from Google.

    This was followed by financial services platform Navi, which raised $18 million in debt. Other startups such as managed accommodation provider Stanza Living, rural financial services firm Save Solution, and NBFC operating in remote rural parts, Dvara KGFS, also raised funding during the week.

    In addition, 14 early-stage startups secured funding worth $49.6 million during the week. SaaS (Software-as-a-service) startup UnifyApps topped the list followed by solar energy platform Soleos Solar Energy, NBFC Varthana, and producer of high-quality Single-Walled Carbon Nanotubes (SWCNTs) NoPo Nanotechnologies.

    The list of early-stage startups also includes — Collective Artists Network, 8chili, Agrilectric, Fix My Curls, and Infinx – which kept the funding amount undisclosed. City-wise, Bengaluru-based startups led with 14 deals followed by Delhi-NCR, Mumbai, Hyderabad, Ahmedabad, Ludhiana, and Chennai.

  • EaseMyTrip Withdraws GoFirst Bid To Focus On Core Growth Areas: CEO | Companies News

    New Delhi: Online travel company EaseMyTrip’s CEO Nishant Pitti on Saturday announced the withdrawal of the bid for GoFirst airline to concentrate on the company’s areas of strength. The decision came as the company posted a net loss of Rs 15 crore for the January-March quarter of the fiscal year 2024 (Q4 FY24), primarily owing to substantial write-offs related to now-bankrupt Go Airlines (India) Ltd, also known as GoFirst.

    The company posted Rs 31 crore in net profit in the same period in the last fiscal year. In a statement, Pitti said that after careful consideration, “I have decided to withdraw from the GoAir (now branded as GoFirst) bid in my personal capacity”. “This decision allows me to better focus on other strategic priorities and initiatives that align with our long-term vision and growth objectives,” he added. (Also Read: From Sleeping On Railway Stations To Self-Made Billionaire: Read Inspiring Journey of 10th Grade Dropout Who Now Owns Rs 92,000 Cr Company)

    The Q4 loss occurred after the travel company wrote off amounts recoverable from Go Airlines (India) Ltd after the holding company assessed that the chances of recovery are “remote in the pending dispute resolution proceedings of the airline at National Company Law Tribunal, Delhi Bench”. (Also Read: RBI Fines Hero FinCorp Rs 3.1 Lakh For Violating Fair Practices Code)

    Pitti further said that the company’s commitment to delivering exceptional value and service remains unwavering as “we continue to navigate new opportunities and challenges”. For the full fiscal FY24, EaseMyTrip recorded revenue of Rs 609 crore, a 31 per cent increase from Rs 464 crore in FY23.

    In Q4 FY24, the company acquired a 50 per cent stake in Jeewani Hospitality to develop a luxurious 150-room Radisson Blu hotel in Ayodhya. It also introduced EaseMyTrip Insurance Broker Pvt Ltd, marking its entry into the Rs 7.9 trillion insurance industry.

  • RBI Fines Hero FinCorp Rs 3.1 Lakh For Violating Fair Practices Code | Companies News

    New Delhi: The RBI has announced on Friday that it has imposed a penalty of Rs 3.1 lakh on Hero FinCorp Limited for not complying with certain provisions of the fair practices code.The Reserve Bank clarified that the penalty is due to regulatory compliance issues and it does not affect any validity of transaction or agreement Hero FinCorp Limited has with its customers.

    The RBI conducted a statutory inspection of Hero FinCorp Limited based on its financial position as of March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the directions, it said. (Also Read: HDFC Bank Customers Alert! UPI, Net Banking, And Mobile Banking Services Will Be Down On THIS Date & Time- Details Inside)

    “After considering the company’s reply to the notice, oral submissions made during the personal hearing and examination of additional submissions made by it, RBI found, inter alia, that the … Charge against the company was sustained, warranting imposition of monetary penalty,” the central bank said. (Also Read: Google Infuses $350 Million In Walmart-Owned Flipkart)

    Hero FinCorp did not convey the terms and conditions of loans in writing to borrowers in the vernacular language understood by them, it said. The RBI also said imposition of the monetary penalty is without prejudice to any other action that may be initiated by it against the company. (With PTI Inputs)